Valley National Advisers Inc. Sells 1,150 Shares of AbbVie Inc. (NYSE:ABBV)

Valley National Advisers Inc. lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 17.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,526 shares of the company’s stock after selling 1,150 shares during the quarter. Valley National Advisers Inc.’s holdings in AbbVie were worth $856,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. VitalStone Financial LLC raised its position in shares of AbbVie by 218.4% in the 2nd quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock valued at $33,000 after acquiring an additional 166 shares during the period. Hibernia Wealth Partners LLC bought a new position in shares of AbbVie during the third quarter worth $36,000. PCA Investment Advisory Services Inc. acquired a new position in shares of AbbVie in the 2nd quarter valued at $38,000. True Wealth Design LLC acquired a new stake in AbbVie during the 4th quarter worth $39,000. Finally, Blue Bell Private Wealth Management LLC lifted its holdings in AbbVie by 39.5% during the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after acquiring an additional 81 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Down 0.1 %

Shares of ABBV stock opened at $169.85 on Tuesday. The company has a market capitalization of $300.74 billion, a PE ratio of 62.22, a price-to-earnings-growth ratio of 2.17 and a beta of 0.58. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The firm has a 50 day moving average price of $176.35 and a two-hundred day moving average price of $159.36.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, February 2nd. The company reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. The firm had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a return on equity of 162.28% and a net margin of 8.95%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.60 EPS. As a group, analysts predict that AbbVie Inc. will post 11.12 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.65%. AbbVie’s payout ratio is presently 227.11%.

Insider Transactions at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Perry C. Siatis sold 13,753 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $177.51, for a total transaction of $2,441,295.03. Following the sale, the executive vice president now directly owns 28,173 shares of the company’s stock, valued at approximately $5,000,989.23. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ABBV. Guggenheim lifted their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. The Goldman Sachs Group upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 price target for the company in a report on Monday, December 11th. Raymond James boosted their price objective on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Barclays boosted their price target on AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th. Finally, BMO Capital Markets increased their price objective on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $177.43.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.